Market Monitor: West Virginia July 2022 Market Monitor: West Virginia July 2022
Key Takeaways
  • It is the highest reported revenue since March and the second highest on record.
  • Compared to the same month a year ago, revenue is up 63%.
  • With revenue if $1.3 million in July, it remains the smallest of the three, but was the top performer.
  • Figures are based on weekly numbers reported by the WV Lottery.
  • Explore the latest data from West Virginia in the directory ».
  • sources:.

Revenue at regulated iGaming operators in West Virginia rebounded in July, up 14% month-over-month to $8.7 million. It is the highest reported revenue since March and the second highest on record.

Compared to the same month a year ago, revenue is up 63%. This is actually the lowest in the market in its two-year history. Earlier this year, the market was more than doubling annually. It suggests that the market is approaching maturity, but there is still significant growth yet to come.

There are three licensees in WV for online gaming — The Greenbrier, whose license is used by BetMGM, FanDuel, and Golden Nugget; Hollywood, on behalf of DraftKings and PointsBet; and Mountaineer, for BetRivers and Caesars.

The trio on Greenbrier remains the largest. At $4.6 million in July, it holds over 50% of the gaming market by revenue. However, this is a dip on previous months, where its share was north of 55%.

Indeed, it was the smallest licensee, Mountaineer, that had the best month. With revenue if $1.3 million in July, it remains the smallest of the three, but was the top performer. Its market share has grown to 15%, the highest on record.

Figures are based on weekly numbers reported by the WV Lottery. PRO uses a proprietary system to create accurate monthly revenue estimates to facilitate cross-state comparisons.